Axxcess Wealth Management LLC Increases Stock Position in General Electric (NYSE:GE)

Axxcess Wealth Management LLC grew its stake in shares of General Electric (NYSE:GE) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 12,536 shares of the conglomerate’s stock after buying an additional 93 shares during the quarter. Axxcess Wealth Management LLC’s holdings in General Electric were worth $2,091,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Johnson & White Wealth Management LLC bought a new stake in General Electric during the 4th quarter worth approximately $733,000. Chung Wu Investment Group LLC bought a new stake in shares of General Electric during the fourth quarter valued at approximately $795,000. State Street Corp increased its position in General Electric by 2.1% in the third quarter. State Street Corp now owns 43,322,827 shares of the conglomerate’s stock worth $8,181,801,000 after purchasing an additional 898,296 shares during the last quarter. Soltis Investment Advisors LLC increased its position in General Electric by 269.8% in the third quarter. Soltis Investment Advisors LLC now owns 28,201 shares of the conglomerate’s stock worth $5,318,000 after purchasing an additional 20,575 shares during the last quarter. Finally, World Investment Advisors LLC increased its position in General Electric by 60.7% in the third quarter. World Investment Advisors LLC now owns 13,662 shares of the conglomerate’s stock worth $2,576,000 after purchasing an additional 5,162 shares during the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on GE shares. Bank of America lifted their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Wells Fargo & Company boosted their target price on shares of General Electric from $225.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. UBS Group upped their price objective on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Redburn Atlantic started coverage on shares of General Electric in a report on Tuesday, February 18th. They set a “buy” rating and a $250.00 price objective on the stock. Finally, Citigroup upped their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $211.31.

General Electric Trading Up 2.4 %

General Electric stock opened at $205.67 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88. General Electric has a 12 month low of $133.99 and a 12 month high of $212.19. The stock’s 50 day simple moving average is $197.36 and its two-hundred day simple moving average is $184.53. The firm has a market cap of $220.75 billion, a PE ratio of 34.34, a P/E/G ratio of 2.59 and a beta of 1.19.

General Electric (NYSE:GE) last released its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping the consensus estimate of $1.05 by $0.27. General Electric had a return on equity of 22.19% and a net margin of 14.31%. Analysts anticipate that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.70%. The ex-dividend date is Monday, March 10th. This is a positive change from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 24.04%.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.